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Ceva's February outlook says the corn supply/demand balance is worsening as global stocks swell and US exports face South American competition. Chicago corn averaged $163/t and soybeans $361/t in February, with soybeans at their lowest since 2020.
Broiler chicken prices were little changed, with a downward trend in major regions except Brazil, where heat waves hit farms.
Heavy corn and soymeal supplies keep feed ingredient prices under pressure, while Brazilian heat is a small upside risk for chicken prices.
poultry.ceva.comFeb 28, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
